Shares of Stitch Fix sank after the online personal styling service’s quarterly net revenue fell 20% year-over-year to $412.1 million, slightly missing analyst expectations of $413.1 million. The company’s loss per share of 58 cents for its latest quarter came in wider than the 35 cent loss expected by Wall Street analysts.
The company also announced Dan Jedda will step down as chief financial officer “to pursue another opportunity.” As of April 3, the CFO role will be filled by David Aufderhaar, SVP of Finance.
Jedda’s departure comes about two months after Elizabeth Spaulding stepped down as Chief Executive Officer of Stitch Fix. Founder Katrina Lake is currently serving as interim CEO.
“This quarter, we continued to execute on our plan to achieve profitability and preserve liquidity,” Lake said in the company’s quarterly release. “Looking forward, we will continue to invest in the advanced data science and machine learning capabilities combined with personalized styling expertise that have set us apart for more than a decade.”
CrowdStrike (CRWD)
CrowdStrike’s fourth quarter revenue of $637.4 million came in above estimates of $624.8 million. The cybersecurity company’s adjusted earnings per share of 47 cents also came in over Wall Street expectations of 43 cents.
“CrowdStrike delivered a strong quarter with a record net-new ARR [annual recurring revenue] of $222M and strength in large customers as results beat expectations across both top and bottom line estimates,” RBC Capital Markets analysts said in response to the quarterly print.
Shares rallied more than 6% in after-hours. The stock is up 18% year-to-date.
Ines is a senior business reporter for Yahoo Finance. Follow her on Twitter at @ines_ferre
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Source: finance.yahoo.com